XauUsd and my bearish scenarios

9 июл.

Despite recent fluctuations, my medium-term bearish outlook on gold remains firm.
Last Friday’s NFP report caused a spike that hit my stop loss at 2390, leading me to temporarily exit the market.

My Scenarios:

Rise and Sell:
Gold may rise to test 2400 or higher. If it shows weakness at this level, I'll look for a selling opportunity, targeting a drop back to the support level(around 2300)

Consolidation and Drop:
If gold fails to break above the recent high, I expect a drop to support (2300), marking this new high a strong ceiling level.

Daily Time Frame:

On the daily chart, yesterday’s drop negated the NFP rise, reinforcing my bearish outlook.
If gold rises again above 2400, in my opinion it’s unlikely to hold gains, also suggesting a continuation downward.

9 июл.

Заметка

XauUsd is pressing in the yellow zone.
A zone that coincides with Friday's NFP low and yesterday's low.
Also, the pattern from the past few days is looking like an H&S